News

The presentation provided tax professionals with a critical first look at new IRS initiatives on taxpayer compliance and reporting obligations for cryptocurrency transactions.

The panelists discussed the IRS position on cryptocurrency as property rather than cash, analyzed IRS monitoring to increase compliance, considered criminal investigations and prosecutions for failing to properly report cryptocurrency transactions and defined proper reporting and tax treatment for “mining” and exchanging crypto currency.

Practitioners are often faced with ethical conundrums in everyday practice. The representation of spouses in an exam, discovering information not reported in a prior year, issues with financial information that surfaces after it has been provided to the IRS, etc. Our panel of practitioner and government experts reviewed these situations and discussed them so that attendees will know what to do (and not do) when these issues arise.

The monumental passing of the Tax Cuts and Jobs Act results in historic tax reform impacting nearly every American. This has brought about exciting opportunities for CPAs and financial planners. Your guidance will help your affluent clients achieve their financial goals and help you generate new business.

Governments across the world are conducting cross-border investigations and cooperating with each other to identify and prosecute tax evasion and other economic crimes that drain government coffers. The targets of these cross-border investigations include not only the taxpayers themselves, but also the domestic and foreign financial institutions and other entities and individuals who are believed to have facilitated the taxpayers’ conduct.

Governments across the world are conducting cross-border investigations and cooperating with each other to identify and prosecute tax evasion and other economic crimes that drain government coffers. The targets of these cross-border investigations include not only the taxpayers themselves, but also the domestic and foreign financial institutions and other entities and individuals who are believed to have facilitated the taxpayers’ conduct.

NEW YORK AND WASHINGTON, D.C. (November 26, 2018) — Kostelanetz & Fink, LLP is pleased to announce that it is expanding both its New York and Washington, D.C. offices by bringing on Yoram Keinan, a prominent domestic and international tax planning veteran, and Paul T. Butler, a distinguished former civil trial attorney for the Justice Department’s Tax Division and former Associate Area Counsel, Large Business & International, for the Internal Revenue Service.

Guidance on making sure your transactions will pass muster under the Economic Substance, Sham Transaction, Substance over Form and related doctrines; determining when the IRS will respect a transaction as structured and when will it disregard the form of the transaction to disallow the claimed tax benefits.